Horizont plant in debts. Director has fled

Four-day working weeks and shutdowns has become a common practice for the Horizont plant, producing house appliances and electronic equipment.

Charter97.org learnt the news from a source at the enterprise.

According to an excerpt from the minutes of the budgeting committee of the Horizont-Sojuz CHC and unitary enterprise Electronics and House Appliances Plant Horizon as of 15 August 2014, which was shared by our reader, the plant operates with losses and its activities are “taking settled insolvency nature”. Plant’s own floating capital is negative. The floating capital is formed at the expense of long-term and short-term debts. The earnings plant is only met by 49.4%.

The periods between 12 and 22 August and between 8 and 18 September for all the Horizont employees will be considered a forced outage and the payment will account to 2/3 of the tariff rate.

Our reader points out that the “figures of the losses are strongly reduced, by approximately 10 times. You know yourselves that they would draw any figures, but everything here is falling apart, so it is not possible to conceal anything, it can only be “adjusted”.

“Tovarishch Andrej Arlou could no longer take it so he has fled on Monday. Now there is no one in the head of the plant”, - the source reported.